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If you are looking for new business, increased sales and product extensions, you should start with your hidden assets.Â How should you define hidden assets.Â The simple definition is assets not seen on the ballance sheet.Â Simplistically stated, assets represent ownership of value that can be converted into cash.Â Â In business, there are a number of hidden assets that can be useful in creating new business opportunities.
The first hidden asset is you and your passion.Â This is the foundation of value creation such as intelleual proprty, businesses and other items create from your passion.Â The value can be used to increase wealth or to joint venture with others to form new business.
The second hidden asset is your personal and social networks.Â This is extremely important when your need help or want to bounce your ideas off another person.Â This same value can be used to help others succeed which converts your hidden asset into value for you and your network.
The third hidden asset is your partners or customers.Â Â the value is created as your partners and customers become advocates for your business.Â This is great for social media where your customers can be influencers of others.
I am sure you can name several other hidden assets that do not show up on your balance sheet.Â You can make a list of these assets and how to use them to grow your business and wealth.